{"id":3696,"date":"2020-11-19T22:30:21","date_gmt":"2020-11-20T04:30:21","guid":{"rendered":"https:\/\/www.iowawatercenter.org\/?post_type=news&p=3696"},"modified":"2020-11-19T22:30:21","modified_gmt":"2020-11-20T04:30:21","slug":"epa-invites-iowa-california-and-rhode-island-to-apply-for-695-million-in-water-infrastructure-loans","status":"publish","type":"news","link":"https:\/\/www.iowawatercenter.org\/news\/epa-invites-iowa-california-and-rhode-island-to-apply-for-695-million-in-water-infrastructure-loans\/","title":{"rendered":"EPA Invites Iowa, California, and Rhode Island to Apply for $695 Million in Water Infrastructure Loans"},"content":{"rendered":"

11.18.20 – The U.S. Environmental Protection Agency (EPA) is inviting three state agencies to apply for a total of $695 million in Water Infrastructure Finance and Innovation Act (WIFIA) loans through EPA\u2019s new state infrastructure financing authority WIFIA (SWIFIA) program. This funding will help states finance infrastructure projects to improve water quality and protect public health in communities across the United States. For this round, California, Iowa, and Rhode Island are invited to apply for funding.<\/u><\/u><\/p>\n

\u201cThe SWIFIA program will help finance over $3.2 billion in water infrastructure investments across the states of California, Iowa, and Rhode Island, while creating more than 2,000 jobs,\u201d\u00a0said EPA Administrator Andrew Wheeler.\u00a0\u201cIt\u2019s another example of the Trump Administration\u2019s commitment to building clean water infrastructure across the country.\u201d<\/u><\/u><\/p>\n

\u201cRegion 7 works in continuous partnership with the State of Iowa for their implementation of the State Revolving Loan fund program,\u201d saidEPA Region 7 Administrator Jim Gulliford. \u201cThe State of Iowa has successfully distributed previous loan dollars to communities and other organizations to support infrastructure construction, facility improvements, and watershed programs with the goal of protecting water quality and providing safe and reliable drinking water. If awarded, the SWIFIA program will provide funds to the state at a lower interest rate and will be applied to projects currently on the state\u2019s Intended Use Plans.\u201d<\/u><\/u><\/p>\n

\u201cToday\u2019s announcement will provide an opportunity not only for additional affordable financing capacity for the Iowa State Revolving Fund, but it will also help to support a high quality of life and exceptional business climate through critical long-term water quality investments,\u201d said\u00a0Iowa Finance Authority Executive Director Debi Durham.<\/u><\/u><\/p>\n

\u201cThe Iowa SRF is always interested in pursuing low-cost financing,\u201d said\u00a0Iowa Department of Natural Resources Director Kayla Lyon.\u00a0 \u201cWe know how important it is for our borrowers to keep their costs low to help keep water and sewer rates affordable.\u201d<\/u><\/u><\/p>\n

EPA\u2019s SWIFIA loans are available exclusively to state infrastructure financing authority borrowers, commonly known as\u00a0State Revolving Fund (SRF) programs<\/a>, and will allow these programs to finance more infrastructure projects in their states. The first three selected SWIFIA borrowers are the California State Water Resources Control Board ($500 million), the Iowa Finance Authority ($156 million), and the Rhode Island Infrastructure Bank ($39.2 million). These programs will combine state resources, annual capitalization grants, and the SWIFIA loans to accelerate investment in drinking water and wastewater infrastructure.<\/u><\/u><\/p>\n

Background<\/strong><\/u><\/u><\/p>\n

The SWIFIA program, authorized by Congress in section 4201 of America\u2019s Water Infrastructure Act (AWIA) of 2018, is a loan program within the Water Infrastructure Finance and Innovation Act (WIFIA) program that is exclusively for state infrastructure financing authority borrowers. On July 17, 2020, EPA announced the availability of SWIFIA loans and a deadline of September 15, 2020 to submit letters of interest. EPA received three letters of interest and is inviting all three candidates to apply for SWIFIA loans.Prior to establishing the SWIFIA program, two state infrastructure financing authority borrowers were selected to receive WIFIA loans. In 2019, EPA closed a $436 million WIFIA loan with the Indiana Finance Authority. The New Jersey Infrastructure Financing Authority was also invited to apply for a $149 million WIFIA loan.<\/u><\/u><\/p>\n

Under President Trump, EPA has closed 40 WIFIA loans that are providing $7.7 billion in credit assistance to help finance $16.6 billion for water infrastructure while creating more than 38,200 jobs and saving ratepayers $3.6 billion.<\/u><\/u><\/p>\n

For more information about the SWIFIA program, visit\u00a0https:\/\/www.epa.gov\/wifia\/what-swifia<\/a><\/u><\/u><\/p>\n

For more information on the DWSRF, visit\u00a0https:\/\/www.epa.gov\/drinkingwatersrf<\/a><\/u><\/u><\/p>\n

For more information on the CWSRF, visit\u00a0https:\/\/www.epa.gov\/cwsrf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

11.18.20 – The U.S. Environmental Protection Agency (EPA) is inviting three state agencies to apply for a total of $695 million in Water Infrastructure Finance and Innovation Act (WIFIA) loans […]<\/p>\n","protected":false},"featured_media":0,"template":"","acf":[],"yoast_head":"\nEPA Invites Iowa, California, and Rhode Island to Apply for $695 Million in Water Infrastructure Loans - Iowa Water Center<\/title>\n<meta name=\"description\" content=\"The U.S. Environmental Protection Agency (EPA) is inviting three state agencies to apply for a total of $695 million in Water Infrastructure Finance and Innovation Act (WIFIA) loans.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.iowawatercenter.org\/news\/epa-invites-iowa-california-and-rhode-island-to-apply-for-695-million-in-water-infrastructure-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EPA Invites Iowa, California, and Rhode Island to Apply for $695 Million in Water Infrastructure Loans - 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